South Korean prosecutors are attempting to obtain a court order to freeze Do Kwon's national assets, valued at $5.3 million.
Do Kwon allegedly converted his illicit funds into Bitcoin through an overseas crypto asset exchange, making it impossible for South Korean authorities to recover or freeze his property
Official documents obtained from the Serbian Business Registry reveal that Do Kwon opened a company “Codokoj22 d.o.o. Beograd” on October 12 for $0.92
After being detained in Montenegro, Do Kwon, the CEO of Terraform Labs, was charged by US officials with fraud.
According to Filip Adzic, the interior minister of Montenegrin, Do Kwon, the creator of Terraform Labs, has been taken into custody.
The firm behind the unsuccessful TerraUSD (UST) stablecoin, Terraform Labs, is the subject of an investigation, according to Singapore police.
SEC alleges that Terraform and its founder Kwon marketed crypto asset securities to investors looking to earn a profit, claiming that the tokens would increase in value
The assets are tied with former and incumbent CEOs of Terraform Labs' affiliate blockchain consultancy firm Kernel Labs.
South Korea's Ministry of Finance "is in the process of requesting cooperation from the Serbian government"
Shin is accused of allegedly making unfair profits from issuing in-house tokens LUNA and TerraUSD and also faces charges of breach of duty.